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Note 7 - Leases

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE 7 – LEASES 

The Company leases its office and warehouse space. The lease has a remaining life of 5yrs. The Company accounts for its leases according to ASC 842 Leases. 

Lease expense was $169 and $209 in the years ended December 31, 2024 and 2023, respectively.

Maturities of operating lease liabilities were as follows as of December 31, 2024:

		KEUR
2025			167
2026			167
2027			167
2028			167
2029 and beyond			392
Total Lease payments			1,060
Less interest			430
Present value of lease payments			630

Balance Sheet Classification		Liability KEUR				Asset KEUR
Current			58
Long term			572				630
Total Lease			630				630

The lease was calculated over a 122 month period at a weighted average discount rate of 18%.

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- References

No definition available.

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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